Key Points
- CEO Andrew Houston sold 9,167 shares on Dec. 3 at an average price of $30, and in a series of recent insider sales has disposed of about 349,336 shares totaling more than $10.4 million.
- Dropbox beat its latest quarterly estimates with $0.74 EPS (vs. $0.64 est.) and $634.4M revenue (vs. $623.6M est.), though it reported a negative return on equity of 49.51% while posting a 19.87% net margin.
- Analyst sentiment is mixed with a consensus "Hold" and an average target of $31.75; the stock trades near $29, has a market cap of $7.59B, and is ~94.8% owned by institutional investors.
Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CEO Andrew Houston sold 9,167 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $30.00, for a total transaction of $275,010.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Andrew Houston also recently made the following trade(s):
- On Monday, December 1st, Andrew Houston sold 92,000 shares of Dropbox stock. The stock was sold at an average price of $29.53, for a total transaction of $2,716,760.00.
- On Friday, November 14th, Andrew Houston sold 101,167 shares of Dropbox stock. The stock was sold at an average price of $30.23, for a total transaction of $3,058,278.41.
- On Wednesday, October 1st, Andrew Houston sold 101,167 shares of Dropbox stock. The shares were sold at an average price of $29.64, for a total transaction of $2,998,589.88.
- On Monday, September 8th, Andrew Houston sold 45,835 shares of Dropbox stock. The stock was sold at an average price of $30.04, for a total transaction of $1,376,883.40.
Dropbox Price Performance
Shares of DBX opened at $29.34 on Friday. Dropbox, Inc. has a 1-year low of $24.42 and a 1-year high of $33.33. The stock has a market cap of $7.59 billion, a PE ratio of 16.58, a price-to-earnings-growth ratio of 2.55 and a beta of 0.63. The firm has a fifty day moving average price of $29.49 and a 200 day moving average price of $28.90.
Dropbox (NASDAQ:DBX - Get Free Report) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.10. Dropbox had a negative return on equity of 49.51% and a net margin of 19.87%.The company had revenue of $634.40 million for the quarter, compared to analyst estimates of $623.59 million. During the same quarter last year, the company posted $0.60 earnings per share. The business's quarterly revenue was down .7% compared to the same quarter last year. As a group, equities analysts expect that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of DBX. Y Intercept Hong Kong Ltd acquired a new position in Dropbox in the second quarter worth about $1,404,000. Wealth Enhancement Advisory Services LLC raised its stake in Dropbox by 11.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 48,224 shares of the company's stock valued at $1,350,000 after buying an additional 5,136 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Dropbox by 10.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,662,161 shares of the company's stock worth $190,538,000 after buying an additional 605,258 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of Dropbox by 22.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 9,012 shares of the company's stock worth $258,000 after acquiring an additional 1,641 shares in the last quarter. Finally, UniSuper Management Pty Ltd acquired a new position in shares of Dropbox in the 1st quarter worth approximately $2,027,000. 94.84% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the company. Royal Bank Of Canada raised their price target on Dropbox from $35.00 to $38.00 and gave the stock an "outperform" rating in a research note on Friday, November 7th. Wall Street Zen upgraded shares of Dropbox from a "hold" rating to a "buy" rating in a research report on Saturday, November 8th. UBS Group cut shares of Dropbox from a "neutral" rating to a "sell" rating and cut their target price for the company from $29.00 to $27.00 in a report on Thursday, September 18th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Dropbox in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $31.75.
Read Our Latest Stock Analysis on Dropbox
About Dropbox
(
Get Free Report)
Dropbox, Inc provides a content collaboration platform worldwide. The company's platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
